P
PUBLIC NOTIICE nt: Municipal Finance EThekwini Municipality declares in terms of SSection 14 (2)) of the Local Governmen
2003) that pro
oposed B of Erf 12, Propo
osed Portion C of Westricch and Management, 2003 ((Act 556 of 2
of the Farm N
Ntuzuma 175
504, as depiccted on SH97
761A are not needed to provide the Proposed Portion A o
m level basic Municipal seervices. minimum
purchase pricce in respect of the alienaation of the ssubject propeerties as a Thereforre, the reducction of the p
result off the reduced
d proposed flloor area (bu
ulk). AN APPLLICATION FOR
R THE APPRO
OVAL TO RED
DUCE THE PURCHA
ASE PRICE AND BULK USAG
GE IN RESPEC
CT OF THE SA
ALE OF VARIO
OUS MUNICIIPAL OWNED
D PROPERTTIES TO SEVINI INVESTMEENTS (PTY) Lttd was subm
mitted to Council. oval be grantted to amend
d the Agreem
ment to includ
de the provissions that The Council agreed that an appro
or area (bulkk). the Purchaser would develop 21 000 m2 of proposed developable floo
T
al be granted
d to the Real Estate Unit tto amend thee bulk use arrea from 1. That approva
a
approximate
ely 32000m2 to approxim
mately 21000m
m2 2. The Asset is T
he minimum level of basicc municipal sservices and not needed tto provide th
3. The fair mark
T
ket value of tthe asset and
d the econom
mic and comm
munity valuees to be received in e
exchange for
r the asset haas been conssidered. 4. That the Rea
T
al Estate Unitt be granted tthe right to rreduce the purchase price in respect of the sale o
of proposed portion C of Erf 323 Wesstrich in extent 1,4449ha,, proposed portion B of EErf 12 W
Westrich in e
extent 8672m
m2 and propo
osed Erf (D) o
of Westrich ((formally desscribed as a p
proposed p
portion of th
he farm Ntuzu
uma no.1750
04) in extent 2, 3832ha frrom R17 600 000.00 to R11 500 0
000.00. 5. That an adde
T
endum to thee Agreementt of Sale be eentered into iin terms of SSection 116 (3
3) of the M
MFMA this A
Addendum is to clearly staate that shou
uld the remaaining bulk bee required in
n the f
future the pu
urchaser will be required to pay for th
his at a markket assessed p
price at the ttime. n and enquirres, contact ZZakhi Mkhizee on 031‐311
1 7845 or email For moree information
[email protected] D. Nene
Acting Cityy Manager